Topic: Reports and Indices
1. Corporate India will need ₹115-125 lakh crore in debt between FY26 and FY30, according to a Crisil report.
- This debt will fund capital expenditure, working capital, and NBFC financing, according to Crisil.
- ₹45-50 lakh crore of this amount will be allocated to capital expenditure.
- ₹70-75 lakh crore will be used to meet the needs of NBFCs and working capital.
- The infrastructure sector is expected to contribute nearly 75% of the total investment during this period.
- It will account for 55% of the overall debt requirement by FY30.
- Corporate India's leverage is currently at its lowest in a decade.
- The financial health of infrastructure assets has also improved.
- India’s financing system is expected to grow at an annual rate of 10% until FY30.
- However, this growth rate may not be enough to meet the rising debt requirements.
- This could create a funding gap of ₹10-20 lakh crore.
- Ongoing policy support and diverse funding sources will be crucial for meeting India’s investment needs over the next five years.
Topic: Miscellaneous
2. ICAI President Charanjot Singh Nanda introduced VISHWASNIYA as the guiding theme for his presidency.
- The theme symbolizes ‘Reliability’. Nanda’s leadership aims to position ICAI as a reliable partner in India’s growth.
- The VISHWASNIYA concept is grounded in 11 foundational principles.
- V - Vision for Viksit Bharat
- I - Integrity & Ethics
- S - Sustainability & Social Impact
- H - Holistic Professional and Leadership Development
- W - Wellness & Work-life Balance
- A - Accelerating Digital Transformation
- S - Stakeholder Engagement
- N - Nation-first Approach
- I - Innovation & Entrepreneurship
- Y - Youth and Women-led Development
- A - Accountability, Trust, and Transparency
- These principles are centered on trust, excellence, and a commitment to the nation.
- The theme strengthens ICAI’s role in developing a solid financial system.
- It also supports India’s aspiration to become a global economic leader by 2047.
- Nanda defended the essential role of Chartered Accountants in conducting tax audits.
- He asserted that they possess the necessary expertise for the job.
- He pointed out that Section 44AB of the Income-tax Act mandates tax audits.
Topic: Appointments
3. RBI has approved Sumant Kathpalia’s reappointment as MD and CEO of IndusInd Bank.
- The term will last for one year, beginning on March 24, 2025.
- This reappointment is shorter than the three-year term recommended by the bank’s board.
- This is the second time the RBI has not approved a three-year term for Kathpalia.
- In March 2023, the RBI granted Kathpalia a two-year term instead of the three years proposed by the board.
- The RBI typically approves a three-year term for CEOs in the banking sector.
- Kathpalia became the CEO of IndusInd Bank in 2020.
- He is responsible for the bank’s overall business strategy and its execution.
Topic: Banking System
4. SBI has launched SBI Asmita to help women entrepreneurs expand their businesses.
- It is a digital, collateral-free SME loan product. A ‘Nari Shakti’ platinum debit card has also been launched by SBI.
- The card is made up from 100% recycled plastic.
- SBI will identify top women entrepreneurs who will avail SBI Asmita loan.
- These women will be given training in entrepreneurship and management.
- The loan offers a self-initiated digital process for women-led MSMEs.
- “bob Global Women NRE & NRO Savings Account” has been launched by Bank of Baroda, tailored for women NRIs.
- “bob Premium NRE & NRO Savings Account” has also been improved.
- “bob Global Women NRE & NRO Savings Account” offers features like an auto sweep facility.
- The first public sector bank to provide insurance benefits to NRIs within their savings accounts is BoB.
Topic: Corporates/Companies
5. Star Health and Allied Insurance Ltd has launched 'SheTARA,
- It is a health initiative focused on women offering free medical screenings in Tamil Nadu.
- The launch coincided with International Women's Day.
- As part of the initiative, a key event was held in Chennai, which provided a range of health services.
- These services included BMI checks, blood pressure readings, blood sugar tests, thyroid function assessments, and bone mineral density screenings.
- Initiative aims to ensure accessible, quality preventive care for all women.
- The company operates a 'Pink Branch' in Chennai. This branch is run by women.
Topic: Summits/Conferences/Meetings
6. Union Minister Bhupender Yadav inaugurated the World Sustainable Development Summit (WSDS) 2025 in New Delhi.
- The inaugural summit ceremony was attended by distinguished dignitaries, including the Prime Minister of Guyana, Brigadier Mark Phillip, and Brazil’s Minister of Environment and Climate Change, Marina Silva.
- The summit theme is Partnerships for Accelerating Sustainable Development and Climate Solutions.
- It is organized by the 'The Energy and Resources Institute (TERI)'.
- India successfully reduced its greenhouse gas emissions by 7.93%.
- India has taken transformative steps with initiatives like the International Solar Alliance (ISA), the Coalition for Disaster Resilient Infrastructure (CDRI), and Mission Lifestyle for Environment (LiFE).
- India is working on a target of achieving net-zero emissions by 2070.
- India has reduced its emission intensity of GDP by 36% between 2005 and 2020.
- India’s role in driving climate action is increasing with a special focus on the Global South’s contributions.
Topic: Awards and Prizes
7. Nithin Kamath has received the EY Entrepreneur Of The Year Award 2024.
- Nithin Kamath, Founder and Chief Executive Officer, Zerodha, has been awarded the EY Entrepreneur Of The Year Award 2024.
- Nithin Kamath will represent India at the global stage at the WEOY in Monte Carlo to be held in June 2025.
- KV Kamath, Chairman of Jio Financial Services, received the Lifetime Achievement Award for this substantial contribution to India’s financial services sector.
- S Somanath, aerospace engineer and former chairman of ISRO received the Special Jury Award for his contributions to space ambitions of India.
- Bhupender Yadav, Union Minister of Environment, Forest and Climate Change presented the award to Nithin Kamath, KV Kamath and S Somanath along with the EOY 2024 category winners.
- This year’s winners generate a total Rs 2 lakh crore in revenue, with a combined valuation (listed and unlisted) exceeding Rs 15 lakh crore.
Topic: Reports and Indices
8. NITI Aayog released a report titled “From Borrowers to Builders: Women’s Role in India’s Financial Growth Story”.
- CEO NITI Aayog, Shri B.V.R. Subrahmanyam, has released the report.
- The report has been published by TransUnion CIBIL, Women Entrepreneurship Platform’s (WEP) of NITI Aayog and MicroSave Consulting (MSC).
- As per the report, Women in India are actively seeking credit and monitoring their credit scores.
- Financial awareness among women has risen. As of December 2024, 27 million women were seeking credit, 42% more than the previous year.
- Women’s share in the total self-monitoring credit base rose to 19.43 percent in December 2024, up from 17.89 percent in 2023.
- In 2024, Maharashtra, Tamil Nadu, Karnataka, Uttar Pradesh and Telangana will account for 49 per cent of all self-monitoring women, with the southern region leading with 10.2 million.
- Women from non-metro regions are more actively self-monitoring their credit as compared to those in metro areas.
- Northern and central states, including Rajasthan, Uttar Pradesh, and Madhya Pradesh registered the highest compounded annual growth rates (CAGR) in active women borrowers over the past five years.
- Since 2019, women’s share in business loan origination has increased by 14 percent. Share in gold loans has grown by 6 percent.
Topic: Banking/Financial/Govt Schemes
9. The New Credit Assessment Model for MSMEs launched by the Union Finance Minister.
- The New Credit Assessment Model based on the scoring of digital footprints of MSMEs was launched by the Union Finance and Corporate Affairs Minister, Smt. Nirmala Sitharaman.
- This was announced in the Union Budget 2024-25.
- In this, public sector banks will develop their in-house capacity to assess MSMEs for credit instead of relying on external assessment.
- A new credit assessment model based on the scoring of digital footprints of MSMEs in the economy will be developed by PSBs.
- This credit assessment model will leverage digitally fetched and verifiable data available in the ecosystem.
- It will devise automated journeys for MSME loan appraisal using objective decisioning for all loan applications and model-based limit assessment for both Existing to Bank (ETB) and New to Bank (NTB) MSME borrowers.
- The model utilizes digital footprints such as PAN authentication, OTP-based verification, GST data fetch, bank statement analysis, ITR verification, bureau checks, and fraud detection through APIs.
- With this model, MSMEs can submit applications online, eliminating the need for paperwork and branch visits.
Topic: Appointments
10. RBI has appointed Dr. Ajit Ratnakar Joshi as its new Executive Director, starting March 3.
- Dr. Joshi will manage the Department of Statistics and Information Management, as well as the RBI's Financial Stability Department.
- Prior to his promotion, he held the position of Principal Adviser in the Department of Statistics and Information Management.
- With more than three decades of experience in statistics, IT, and cyber risk management, Dr. Joshi brings valuable expertise.
- He has taught at the Institute of Development and Research in Banking Technology, Hyderabad.
- Dr. Joshi has been involved in various committees and working groups focused on macroeconomic statistics and policy development.
- He holds a master’s degree in statistics from Nagpur University, a Ph.D. in monetary economics from IIT Madras, and a Diploma in Development Policy and Planning from the Institute of Economic Growth, Delhi.
- Additionally, he is a certified associate of the Indian Institute of Banking and Finance (CAIIB).
Topic: Reports and Indices
11. India's high net worth population is set to reach 93,753 in the next three years.
- According to Knight Frank's The Wealth Report 2025 released on March 5, the number of India's high net worth individuals (HNWIs) with assets above $10 million is estimated to be 85,698 in 2024.
- This number is expected to grow by 9.4% to 93,753 by 2028, reflecting the country's growing wealth landscape.
- In 2024, the number of Indian HNWIs grew by 6% year on year to 85,698 from 80,686 in 2023.
- India accounts for 3.7% of the world's high-income individuals and currently holds the fourth position globally, following the US (905,413 HNWIs), China (471,634 HNWIs), and Japan (122,119 HNWIs).
- In 2024, the country's billionaire population has also seen a strong year-on-year growth of 12% compared to the previous year.
- India now has 191 billionaires, with 26 joining the category last year alone, compared to just 7 in 2019.
- According to the report, the combined wealth of Indian billionaires is estimated at US$950 billion, ranking the country third globally after the US (US$5.7 trillion) and Mainland China (US$1.34 trillion).
- Similarly, in 2024, more than 82% of new billionaires were men, down from 90% four years ago.
- Of billionaires under the age of 30, about 47% were women last year, pointing to a potentially more balanced future.
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